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Fertinal to File New Lawsuit
Against ING's Mexican Unit

By

Santiago PerezDow Jones Newswires

Updated Sept. 6, 2003 8:12 p.m. ET

MEXICO CITY -- Mexico's Grupo Fertinal plans to file a new $900 million suit against the local unit of Dutch insurer ING Groep N.V., as the dispute over a $300 million insurance claim between the two companies continues to escalate.

Fabio Covarrubias, chairman of the fertilizer producer, said the new suit is an attempt to force Mexico's top casualty insurer, ING Comercial America, to pay damages allegedly caused by unpaid insurance claims which would have prevented Fertinal from falling into bankruptcy.